SportBusiness.com

GLAZER RAISES STAKES FURTHER

Malcolm Glazer yesterday spent around £17million on more Manchester United shares to lift his shareholding to 27.63 per cent, fuelling speculation that he will bid for them.

It follows a £45million outlay on Friday as Glazer moves within touching distance of United's biggest shareholders, Irish racehorse owners John Magnier and JP McManus, who own 28.9 percent of the club through their Cubic Expression investment vehicle.

It puts Glazer just 2.3 per cent away from the amount necessary to trigger a takeover – a 29.9 per cent holding would enforce a bid for the rest of the club under Stock Exchange rules.

The buying comes despite a breakdown in talks between Glazer and Cubic Expression over the American wanting to buy the Irish investors' stake.

It emphasises Glazer’s continued interest in the 126-year-old soccer club, the richest in the world, now valued at more than £710million.

Shares in the FA Cup holders closed unchanged at 285p on Monday.